Deadline looms for EEA investors to claim 5% redemption from fund

An action group set up to claw money back from the suspended traded life settlement fund EEA is urging investors to apply to redeem up to 5% of their shares, before the deadline of 28 November.

Holders of ‘continuing shares' - shares held continuously in the name of the beneficial owner or their appointed adviser - are able to apply to redeem up to 5% of their shares on 2 January 2015. The process varies depending on which provider investors used to buy into the fund (see below), but a completed redemption form, available from EEA, must be received by the fund's Guernsey-based administrator, International Administration, no later than 28 November 2014. Redemptions will only be granted if the available cash in the fund - the buffer it is supposed to hold to pay premiums on th...